TRACE has issued Consilium Global Business Advisors, LLC a certificate signifying that the company has completed internationally accepted due diligence procedures
BOSTON, MA, 13 April, 2016
Ed Marsh announced today that Consilium Global Business Advisors, LLC. has successfully completed a TRACEcertification due diligence review administered by TRACE, the leading global anti-bribery standard setting organization. TRACE has issued Consilium Global Business Advisors, LLC a certificate signifying that the company has completed internationally accepted due diligence procedures and has been forthcoming and cooperative during the review process. TRACEcertification underscores Consilium Global Business Advisors, LLC’s commitment to transparency in international commercial transactions; an important element of the advisory it provides to clients.
Commenting on the certification, Marsh an international business consultant and founder of Consilium said “If you read the headlines you realize that the global fight against corruption is entering a new phase. It’s critical for American companies to elevate their anti-corruption compliance procedures to ensure their operations are beyond reproach. That’s what I advise clients, and I’m pleased that we’re modeling an important step with TRACEcertification.”
Recent bribery investigations and global developments including the pending impeachment proceedings in Brazil and the scandal surrounding the shell companies revealed in the Panama Papers highlight the pervasiveness of corruption. American companies must be aware of the risks inherent in selling, and even buying globally, and they need to take reasonable steps to mitigate those risks.
As third party exposure (distributors, reps & agents) are subject to greater scrutiny by anti-corruption authorities in many jurisdictions around the globe, including the US, proper screening of related parties is critical. “TRACEcertification puts reasonable third party due diligence within reach of SMBs,” continues Marsh. “As an export consultant I frequently speak with companies about strategies to embed compliance in their top line growth initiatives. TRACE is an easy answer for screening third parties. If I’m suggesting others do it, I’ve got to be willing to myself.”
As scandals are unraveled not only are corrupt officials being unmasked, but the networks and transactions are as well. US companies can undertake simple steps to incorporate robust anti-corruption compliance into their operations. Appropriate screening of third parties is an important step in avoiding business relationships that are problematic, much less the enormous reputational damage that can result from association with a scandal.
Consilium’s newly announced TRACEcertification is an example of the steps on which Ed Marsh advises clients.
About Consilium Global Business Advisors: Consilium assists American manufacturers in applying process excellence to their business development. In other words we help lean, well managed companies with rock solid bottom lines effectively and consistently grow their top lines to match. We work primarily with mid-size industrial manufacturing companies, guiding them through a journey of designing and executing business grade B2B inbound marketing and focused, profitable global market expansion.